2,756 research outputs found
Endogenous games and mechanisms: Side payments among players
We characterize the outcomes of games when players may make binding offers of strategy contingent side payments before the game is played. This does not always lead to efficient outcomes, despite complete information and costless contracting. The characterizations are illustrated in a series of examples, including voluntary contribution public good games, Cournot and Bertrand oligopoly, principal–agent problems, and commons games, among others
Design for Support in the Initial Design of Naval Combatants
The decline of defence budgets coupled with the escalation of warship procurement costs have significantly contributed to fleet downsizing in most major western navies despite little reduction in overall commitments, resulting in extra capability and reliability required per ship. Moreover, the tendency of governments to focus on short-term strategies and expenditure has meant that those aspects of naval ship design that may be difficult to quantify, such as supportability, are often treated as secondary issues and allocated insufficient attention in Early Stage Design. To tackle this, innovation in both the design process and the development of individual ship designs is necessary, especially at the crucial early design stages. Novelty can be achieved thanks to major developments in computer technology and in adopting an architecturally-orientated approach to early stage ship design. The existing technical solutions aimed at addressing supportability largely depend on highly detailed ship design information, thus fail to enable rational supportability assessments in the Concept Phase. This research therefore aimed at addressing the lack of a quantitative supportability evaluation approach applicable to early stage naval ship design. Utilising Decision Analysis, Effectiveness Analysis, and Analytic Hierarchy Process, the proposed approach tackled the difficulty of quantifying certain aspects of supportability in initial ship design and provided a framework to address the issue of inconsistent and often conflicting preferences of decision makers. Since the ship’s supportability is considered to be significantly affected by its configuration, the proposed approach utilised the advantages of an architecturally-orientated early stage ship design approach and a new concept design tool developed at University College London. The new tool was used to develop concept level designs of a frigate-sized combatant and a number of variations of it, namely configurational rearrangement with enhancement of certain supportably features, and an alternative ship design style. The design cases were then used to demonstrate the proposed evaluation approach. The overall aim of proposing a quantitative supportability evaluation approach applicable to concept naval ship design was achieved, although several issues and limitations emerged during both the development as well as the implementation of the approach. Through identification of the research limitations, areas for future work aimed at improving the proposal have been proposed
Efficiency and prices in economies of overlapping generations
In a general economy of overlapping generations, I introduce a notion of uniform ine±ciency, corresponding to the occurrence of a Pareto improvement with a small uniform destruction of resources (Debreu [11]). I provide necessary and su±cient conditions for uniform ine±ciency in terms of competitive equilibrium prices. Minimal assumptions are needed for such a complete characterization; moreover, proofs reduce to simple and short direct arguments. Finally, I verify that uniform ine±ciency is preserved under perturbations of the endowments, a property that has not been established for the canonical notion of ine±ciency. Remarkably, an allocation is unifoOverlapping generations; e±ciency; competitive prices; Cass Criterion; social security
Endogenous Games and Mechanisms: Side Payments Among Players
We characterize the outcomes of games when players may make binding offers of strategy contingent side payments before the game is played. This does not always lead to efficient outcomes, despite complete information and costless contracting. The characterizations are illustrated in a series of examples, including voluntary contribution public good games, Cournot and Bertrand oligopoly, principal-agent problems, and commons games, among others.game theory, mechanism design, contracts, side payments, endogenous games, public goods
On Maskin monotonicity of solution based social choice rules
Howard (1992) argues that the Nash bargaining solution is not Nash implementable, as it does not satisfy Maskin monotonicity. His arguments can be extended to other bargaining solutions as well. However, by de.ning a social choice correspondence that is based on the solution rather than on its realizations, one can overcome this shortcoming. We even show that such correspondences satisfy a stronger version of monotonicity that is even su.cient for Nash implementability.Maskin monotonicity, social choice rule, bargaining games, Nash program, mechanism, implementation
Cost-benefit Analysis for Modernization the Agricultural Working Roads
To achieve this CBA we use a series of specific steps and process documentation and references provided by the guide in preparation for submission of projects CBA as 125/FEADR/2010. The content of the cost-benefit analysis it is described in the document developed by the European Agricultural Fund for Rural Development ”Recommendations for developing cost-benefit analysis”. For a clear image of the situation described in the project we will try to analyze three scenarios. The method used in developing the financial analysis is ” discounted cash flow ”. The chosen project is an example, but the dates and figures are real.CBA, FEADR, scenarios, financial analysis, cash flow
The Relationship between Ethical Culture and Unethical Behavior in Work Groups: Testing the Corporate Ethical Virtues Model
The Corporate Ethical Virtues Model, which is a model for measuring the ethical culture of organizations, has not been tested on its predictive validity. This study tests the relationship between this model and observed unethical behavior in work groups. The sample consists of 301 triads comprising a manager and two direct reports. The results show that six of the eight virtues are negatively related to observed unethical behavior. An important implication of this finding is that multiple corporate virtues are required to reduce unethical behavior in work groups.ethical culture;ethics program;unethical behavior;virtue theory;ethical climate;work groups
Sample Approximation-Based Deflation Approaches for Chance SINR Constrained Joint Power and Admission Control
Consider the joint power and admission control (JPAC) problem for a
multi-user single-input single-output (SISO) interference channel. Most
existing works on JPAC assume the perfect instantaneous channel state
information (CSI). In this paper, we consider the JPAC problem with the
imperfect CSI, that is, we assume that only the channel distribution
information (CDI) is available. We formulate the JPAC problem into a chance
(probabilistic) constrained program, where each link's SINR outage probability
is enforced to be less than or equal to a specified tolerance. To circumvent
the computational difficulty of the chance SINR constraints, we propose to use
the sample (scenario) approximation scheme to convert them into finitely many
simple linear constraints. Furthermore, we reformulate the sample approximation
of the chance SINR constrained JPAC problem as a composite group sparse
minimization problem and then approximate it by a second-order cone program
(SOCP). The solution of the SOCP approximation can be used to check the
simultaneous supportability of all links in the network and to guide an
iterative link removal procedure (the deflation approach). We exploit the
special structure of the SOCP approximation and custom-design an efficient
algorithm for solving it. Finally, we illustrate the effectiveness and
efficiency of the proposed sample approximation-based deflation approaches by
simulations.Comment: The paper has been accepted for publication in IEEE Transactions on
Wireless Communication
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